Tencent Q2 profit jumps 70 pct on smartphone games, beating estimates

HONG KONG, Aug 16 (Reuters) - China’s Tencent Holdings on Wednesday reported a forecast-beating 70 percent jump in its second-quarter profit, buoyed by higher revenues from smartphone games, payment services and online advertising.

The world’s largest gaming company raked in revenues of 56.6 billion yuan ($8.46 billion) over the period, up 59 percent from a year ago and beating an average forecast of 52.98 billion yuan from 10 analysts polled by Thomson Reuters.

It posted a 18.23 billion yuan profit for the three months ended June, beating analysts’ estimate of 14.15 billion yuan.

Revenue from smartphone games rose 54 percent to 14.8 billion yuan, helped by games such as Honour of Kings, surpassing revenue from PC games for the first time.

Monthly active users of Tencent’s WeChat, China’s most popular messenger app, rose to 963 million.

The company did not declare any interim dividend.

Tencent shares closed at HK$323 ahead of the results. It is the most valuable company listed in Asia with a market value of $387 billion. ($1 = 6.6923 Chinese yuan renminbi) (Reporting by Sijia Jiang; Editing by Himani Sarkar)